Advertisement
Advertisement

NZD/USD Technical Analysis for the Week of October 17, 2011

By:
Christopher Lewis
Updated: Jan 1, 2011, 00:00 UTC

The NZD/USD pair broke the 0.8000 level during the past week. The pair shot straight up during the week, and the move was impressive. It is too far too

NZD/USD Technical Analysis for the Week of October 17, 2011

The NZD/USD pair broke the 0.8000 level during the past week. The pair shot straight up during the week, and the move was impressive. It is too far too quick, but the move seems very strong. The pair could pullback, and as such could give the USD a bit of a breather. The area we find ourselves in is very resistive, and any bad news could push this pair down very quickly. The Kiwi is very sensitive to the global risk parameters, and will continue to react according to it.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

Did you find this article useful?

Advertisement